"The investment in technology is an investment in Ohio's future, bringing new ideas a jobs to the state," David Goodman, director of the Ohio Development Services Agency and chair of the Ohio Third Frontier Commission, in a written announcement.
CLEVELAND, Ohio -- The Ohio Third Frontier Commission on Wednesday approved more than $15.8 million in grants and loans for cutting-edge technology companies and startups based in Northeast Ohio.
"The investment in technology is an investment in Ohio's future, bringing new ideas a jobs to the state," David Goodman, director of the Ohio Development Services Agency and chair of the Ohio Third Frontier Commission, in a written announcement.
Recipients of the 2014 Ohio Third Frontier Commercial Loan Acceleration Fund (CALF), aimed at helping Ohio companies develop high-tech products and processes that might otherwise not get funded, are:![IMG_1119.JPG]()
View full sizeLinestream Technologies' team includes, second from the left in back row, Greg Jackson, vice president of sales and marketing; Gang Tian, chief technology officer; David Neundorfer, president and chief executive; and Sharon Fay, program director.
View full sizeLinestream Technologies' team includes, second from the left in back row, Greg Jackson, vice president of sales and marketing; Gang Tian, chief technology officer; David Neundorfer, president and chief executive; and Sharon Fay, program director. Linestream Technologies Inc., an embedded motor and motion control software company based in Cleveland, was awarded a $1.3 million loan to support the development of its next generation of software products.
MesoCoat, a venture-backed nanotechnology materials science company based in Euclid, was awarded a $1.5 million loan to support "the production scale up and set up of coating services for PComP nanocomposite coatings and PComP coating application services" at its Euclid facility.
SPR Therapeutics, a Cleveland developer of neurostimulation medical devices designed to alleviate pain, was awarded a $1,367,500 loan to develop its Percutaneous PNS Patch System.
Checkpoint Surgical, a Cleveland company that provides surgeons with "state-of-the-art neurodevices to locate and identify nerves and evaluate nerve and muscle function excitability in surgical procedures," was awarded a $1,591,335 loan to support the product development and commercial launch of a new product suite of head and neck nerve stimulators.
Vadxx Energy, a high tech Akron recycling company that converts plastic into higher value energy products, was awarded a $1.6 million loan to help develop a facility that will produce more than 100,000 barrels of synthetic oil and gas from recycling plastic wastes.
Zuga Medical, a Cleveland company that designs, manufactures and markets innovative dental implant systems, was awarded a $1 million loan to help expand its dental implant kit commercialization efforts.
Recipients of the 2014 Ohio Third Frontier Technology Validation and Start-Up Fund are:
The Cleveland Clinic, a non-profit academic medical center in Cleveland that provides clinical and hospital care and is a leader in research, education and health information, will receive $100,000 in grants for two projects: to study a new surgical mesh used to repair hernias and to study a new imaging system for minimally-invasive surgery.
The University of Akron, a comprehensive research and teaching university in the metropolitan Akron area, will receive $200,000 in grants for four projects: an oxygenated hydrogel wound dressing; a paint-based stress monitoring system for use in the aerospace, civil engineering and naval industries; a smart-phone-based water quality sensor; and an automated system for testing the effects of anti-cancer drugs.
Kent State University, one of the nation's 77 public research universities whose eight campuses span Northeast Ohio, will receive a $26,616 grant to develop a robotic system for assembling fuel cell components, and a $35,004 grant to develop an energy-saving smart window system.
Case Western Reserve University, based in University Circle and ranked among the nation's top independent research universities, will receive a $50,000 grant to develop a software platform for vein and artery imaging technology.
Akron Surface Technologies Inc., an Akron company that specializes in engineered surface solutions, will receive a $100,000 grant to test a metal coating designed to increase the lifespan of mechanical parts by increasing durability and decreasing friction.